WELCOME BACK TO OUR SUDAY ENDITION, WHERE WE ROUT UP SOME OF OUR TOP STORIES AND TAKE YOU INSIDE OUR NEWSROOM. Corporate America was thrown into chaos Friday Night. The Trump Administration Issud a Surprise Executive ORDER THAT WOULD IMPLEMENT A NEW $ 100,000 Fee for H-1b Visa Holders. Stakeholders (and Their Lawyers) Immediately Scrambled to Understand Who Exactly it Wouuld Impact.
Tech and Finance Companies Rushed to tell their employs on these visas to stay in the us. The worry was Trump’s ORDER WOULD MAKE IT FAR MORE EXPENSIVE – AND Potentially impossible – for say to return if they traveled abroad. Less than 24 Hours Later, A White House Official Said That The Fee Wauld Only Apply to New ApplicantsNot Current H-1b Visa Holders.
Still, Chaos and Confusion Persist. And the $ 100K Fee for New Applicants Alone Stands to Upper the Hiring Calculus on Workers for Many Companies. The Majority of H-1b Applications are for Professional, Scientific, and Technical Services. Business Insider Reporters Around the World Have Been All Over This Big Story. Stay Tuned for More Developments.
On the Agenda Today:
But first: What’s Happening at Xai?
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This Week’s Dispatch
A Big Xai Shakeup
Lionel Bonaventure/AFP Via Getty Images
Its been quite a month for Elon Musk’s artificial intelligence venture xai.
The Company Has Undergone Mass Layoffs and Significant Leadership Changes. At one point, xai told workers in an all-hands Meeting that the layoffs were over. THEN IT FIED EASH MORE MORE PEOPLE. And now it has a college student at the helm of its data annotation team, which is tasked with training its chatbot.
My Colleague Grace Kay, A Correspondent on Bi’s Enterprise Desk, Has Uncovered It All in Recent Weeks. I sat down with her discuss the recent turmoil at xai.
What’s the Mood Inside The Company right now?
From the People i’ve spoken with, moral is Low and there a high level of uncetainty. One workshore who survived the layoffs said the last round has made it difficult for say to Trust Leadership or Their Job Security.
What’s Been the Most Surpring Development to you amid the upheaval?
The Leadership Shakeup Has Stood Out. The Date Annotation Team’s Former Leader Had Spent More than a Decade at Tesla, where he helped Manage Data Annotation for Autopilot. He joined Xai JUST A MONTH AFTER AFTER OFFICIALLY LAUNCHED The Company. What Surprised With The Most was that they have replaced Him with diego pass, a college student who no one i’d talked to at xai really knew Much About.
You’ve Covered Elon’s Empire for Years. How Wold You Compare HIS Leadership Style at XAI to How Runs Tesla and HIS Other Companies?
There are a lot of commonalities. Event aspects of the Layoffs at XAI ECHOED THINGS I’VE SEEN ATH TESLA, INCLUDING ASPING WORKERS TO II WORKERS ATHEAD OF CUTS AND THE WAY WORKERS SUDDENLY LOCKED OUT OF SLOCK. What’s different is musk’s visibility. At XAI, WORKERS HAVE BEEN FAR REMOVED From Him. That may be shifting. He’s been tweeting more about grok’s capabilities, and some workers Said they felt like the layout a sign he’s focus on the Company.
Why do you think Elon has Shown a Willingness to Put Young and Relatively Inexperiking People into Such Powerful Positions?
Musk has a track record of this. From what i’ve seen, it seames like it Loyalty and Alignment with his Vision, Sometimes Over Experience. He also tendes to move fast and favor People who can adapt quickly and aren’t too hinded by a more traditional corplate mindset.
Inside a Group Chat For Job Seekers
Rebecca Zisser/Bi
Over the past year, bi’s jacob zinkula has spoken with dosens of Americans Struggling to Find Work. Mary Express How Stressful, Emotionally Draining, and Isolating The Job Search Process Has Been.
Jacob Invited Six Job Seekers from Around the Country to a Group Chat. Over the past fourmonths, they shared how they are copying with a jab markets broken Feels.
Here are some Highlights.
The Amex Platinum Card Gets A Makeover
American Express
The Internet Lost Its Mind When Chase Raised the Annual Fee on Its Sapphire Reserve Card a Few Months Ago from $ 550 to $ 795. American Express JUST RIZTED the ANNUAL FEE ON its platinum card by $ 200, to $ 895, but the world has Spinning kept.
That’s probably because amex cardhalders Think the new platinum card comes with Enough Perks – Including Credits at Resy, Lululemon, and Oura – Justify the price hike.
The Value Depends on Where You Shop, Though.
Also Read:
The New Amex Platinum Card Will Cost $ 895 A Year. Here’s what it gets you.
With (out) a Little help from my parents
Getty Images; Tyler Le/Bi
Fewer and Fewer First-Time Homebuyers Are Getting Help from Their Parents. In 2024, Only a Quarter of First-Time Buyers Got Parental Assistance, Down from 30% The past Three Decades.
That May Sound Encourage for the rest of us – after all, fewer nepo buyers Might Mean Less Competition. In reality, thinning ranks May be yet another sign that something something amiss with the housing market.
Flying solo.
Culling of the herd
Abrice Cofrini/AFP Via Getty Images; Istock; Rebecca Zisser/Bi
Ascending to partner as a consultant has never been easy, but it might be getting a lot Harder. Thanks to the tightening of performance standards and the adoption of he, consulting looks to be on the Edge of a shift that it is the profession.
No One Knows How Exactly It’ll Happy, Though. The Transformation COULD Result in Fewer Entry-Level and Senior Role, Making It Harder for Young People Trying to Rise Through the Ranks, Analysts Told Bi.
IT”s already becoming visible.
This Week’s Quote:
“I WOULD SAY MY COMMENT IS THAT WORTH WORTH MY TIME TO COMMENT.”
-Hedge-end Founder Eric Jackson we are asc as Bi’s Samuel O’Brient if he had an opinion on Martin Shkreli’s short bet on Openndoor.
Inside The Secret World of America he Data Centers
Marco Secci / Google Maps
The explosion of he has seen noisters of water- and power-hungry farms sprout up acroSs the us. Take a look at bi’s deep dive into the true cost of data centers, who ouns say, and what it is like to live in their shadow.
More of this Week’s Top Reads:
- Inside the sneaky rise of “Ghost Tickets.”
- Ukraine Says Russia’s New Jet-Powered Attack Drone is full of Foreign Parts and Immune to Electronic Warfare.
- Exclusive: The Billion-Dollar Rivalry Over “Chatgt for DOCTORS” JUST GOT NASTIER WITH DUEling Lawsuits.
- How Trump’s Quarterly Earnings Shake-Up Could Disruption The White-Collar Ecosystem.
- Defense Tech’s Hottest New Weapon: Company Swag.
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Meta’s $ 800 Computer glasses are here, and they’re very cool. You May Eve Want to Buy.
The Bi Today Team: Steve Russolillo, Chief News Editor, in New York. Lisa Ryan, Executive Editor, in New York. Dan Defrancesco, Deputy Editor and Anchor, in New York. Akin Oyedele, Deputy Editor, in New York. Grace Lett, Editor, in New York. Amanda Yen, Associate Editor, in New York.
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